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David Milton, CBRE MD, chats with Peter Switzer

CBRE News

2 November 2016

CBRE Residential Projects Managing Director, David Milton, recently appeared on Switzer TV to openly discuss the current residential property market and tackle the media's favourite topic - apartment supply.

In the interview on Switzer TV, Milton confirms that apartment supply varies across Australia, however Sydney in fact has had an under supply, short of 36,000 homes and units to be exact. "Most of the statistics on apartment supply and property vacancies are not being reported accurately, so what we are seeing in the market place is actually the opposite of what is being said in the press," said Milton.

Peter Switzer further backed Milton's views by adding: "I've been bagging the doomsday merchants talking about over supply and the impact it has on banks for a while now".

The property boom of the years past has now subsided  to a new normal pace with some projects selling quickly, while others taking longer as buyers have grown smarter looking to research the market more in depth than before. The exception to the rule is the luxury market. Luxury apartments are still high in demand by both local and international buyers.

Watch the interview in full below to hear more about the buying opportunities in each state.
 


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